Bank of Maldives (BML) has announced an ambitious expansion plan to install Automated Teller Machines (ATMs) in 56 additional islands within the next two to three months, underscoring the bank’s commitment to enhancing financial accessibility across the nation.
Speaking in B. Maalhos after inaugurating ATM services across every inhabited island of Baa Atoll, BML Chief Executive Officer Mohamed Shareef highlighted the milestone and outlined the bank’s progress.
“Looking at the work that began last November, we have already launched ATM services in 47 islands this year alone. This means we have now completed installations in all inhabited islands of seven atolls, including Dhaalu, Haa Alif, Noonu, Meemu, Shaviyani, Kaafu, and Baa” Shareef said. “We are now ready to begin operations in 23 more islands across five additional atolls, and we expect to bring services to the remaining 33 islands in seven atolls within the next two to three months.”
A Two-Decade Journey of Expansion
BML introduced ATM services to the Maldives in 2000 under the leadership of then-President Maumoon Abdul Gayoom, with the first five machines installed in Malé. Seven years later, the bank began extending the service to the atolls, launching ATMs in 19 islands in 2007.
Between 2008 and 2023, the bank steadily expanded its footprint, adding services in 68 more islands. In 2023 alone, ATMs were introduced in nine new islands. By the end of last year, BML had established ATM services in 96 inhabited islands outside of Malé.
This year’s rapid progress, with nearly 50 new installations already operational, marks the most aggressive expansion phase in the bank’s history.
Driving Financial Inclusion
The initiative reflects BML’s broader strategy to ensure banking convenience and accessibility nationwide, especially for communities in remote islands. By eliminating the need to travel long distances for basic banking services, the expansion supports greater financial inclusion, economic activity, and community resilience.
As the project nears completion, BML’s ATM network will cover every inhabited island across the country, making it one of the most extensive financial infrastructure undertakings in the Maldives to date.
